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Real estate
Of or pertaining to property of land and the buildings on it. This also includes any minerals, crops, or any other natural resource. The business of real estate is the buying, selling, or renting property.
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Real estate > Contracts 
penalty and bonus clause
Law; Contracts
Provision in a contract under which the contractor is obligated to pay a penalty for late completion and is entitled to receive a bonus for early completion.
penalty clause
Law; Contracts
Provision in a contract that imposes a specified sum on the defaulting contracting party for a specified default.
percentage of completion method
Law; Contracts
Revenue recognition method for a contract completed over more than one accounting period. In this method, a portion of the total contract revenue and a portion of the estimated ...
perfect tender
Law; Contracts
Performance of a supply contract through the timely and full delivery of goods that meet the customer specifications.
perfect tender rule
Law; Contracts
That a buyer may reject the delivery of goods that do not meet the specified quality standards or delivery schedule, or are not in the required quantity.
performance
Law; Contracts
The accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed. In a contract, performance is deemed to be the fulfillment ...
performance bond
Law; Contracts
A written guaranty from a third party guarantor (usually a bank or an insurance company) submitted to a principal (client or customer) by a contractor on winning the bid. A ...
Sub-categories
- Commercial (226)
- Contracts (13098)
- Corporate (746)
- Home improvement (1576)
- Mortgage (522)
- Residential (169)